Buy a rental condominium at the Lake of the Ozarks

To help pay the considerable expense of owning a vacation condo at the Lake of the Ozarks, many owners rent out their places part of the time. Here's an informative publication IRS Form 527(HTML) or IRS Form 527 PDF which also covers vacation and second homes.
Besides extra cash to help with the monthly payments, renting also has some extra tax benefits as well. One should always look at investments after taxes, and especially when looking at real estate.
Most vacation condo owners can qualify for the same tax breaks as landlords who own normal rental properties. But to qualify for the breaks, you'll need to carefully watch how much personal use you make of your vacation condo each year. In some cases, exceeding the prescribed limits by a single day can cost you thousands of dollars in deductions.

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